Byju’s Layoff: Edtech Company Sacks Over 400 Jobs From Monitoring And Product Department

Byju’s has reportedly shown the exit door to its 400 employees in a fresh round of layoff on Friday, August 18. The new layoff impacted employees from monitoring and product departments.

As per Moneycontrol report, employees who were placed under performance review last month were reportedly asked to resign on August 17. However, the edtech startup insisted that this was not a cost-cutting measure and had affected around 100 people.

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Sources were quoted as saying by Moneycontrol, “ the employees were “let go with proper procedures" upon failing to “meet expectations after a performance improvement plan.”

“The HR gave a call and informed employees that their email addresses will be deactivated within the next two hours and asked them to download payslips and other important documents," sources said further.

According to sources, around 400 employees received an update from HR on Thursday and were “immediately asked to initiate exit on the call".

The development came mere days after BYJU's announced the appointment of former Infosys executive Richard Lobo to drive the company's human resource functions. 

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Sources further revealed that employees were asked to resign voluntarily and were offered the salary for August and September as their final settlement. Staff members who refused to resign were immediately terminated and were promised their salary payment up to August 17, they added.

Apart from multiple rounds of layoffs, Byju’s has also sought to boost efficiency and pare costs by giving up its biggest office space in Bengaluru recently.